on RBI’s notification
dated 9 January 2014 relating to options and convertible instruments.
precise scope and contours are still being carefully ascertained. For a flavour
of the further debate, the following resources are helpful:
on The Firm;
available, readers may please insert them in the Comments section.
concept of material adverse change (MAC) that is present as a condition in
several corporate contracts has acquired great importance in the aftermath of
the global financial crisis. Courts in several jurisdictions have had the
opportunity to decide on the scope and effect of such clauses. Although it is
generally quite onerous for parties to invoke a MAC clause to walk away from a
deal, a recent
post by PXV Law Partners discusses a Delaware Chancery Court ruling
that bucks the trend and allowed one of the parties to successfully invoke the
MAC clause. The post also has a helpful discussion on the impact of MAC clauses
in the Indian context, as that area is devoid of the much-needed judicial
attention in India.